MagForce Nanotechnologies Receives Regulatory Approval for Medical Use of Nano-Cancer Therapy Throughout EU

Published on June 28, 2010 at 2:16 AM

Following more than 20 years of research and development efforts, MagForce
Nanotechnologies AG (Frankfurt Stock Exchange: MF6), a majority-owned subsidiary
of Nanostart AG, has
received regulatory approval for medical use of its Nano-Cancer® therapy
throughout the European Union. This momentous event marks the world’s
first nanoparticle-based cancer treatment to come to market.

Approval was granted not just for treating one particular type of brain tumor
but rather, without limitation, for the treatment of all primary brain tumors.
Furthermore, the therapy was approved as a primary therapy, meaning that it
– like surgical resection, chemotherapy, and radiation – may be
used as a first-line treatment for patients who have been newly diagnosed with
brain tumors.

This novel therapy involves the instillation directly into the tumor of a fluid
containing special iron oxide nanoparticles. These magnetic nanoparticles are
then subjected to a controlled magnetic field so that they oscillate and generate
heat. The elevated temperature within the tumor causes the cancer cells to be
damaged or destroyed.

This approval follows successful completion of the conformity evaluation procedure
of the company’s NanoTherm® magnetic fluid by Medcert GmbH and of
its NanoActivator® magnetic field applicator by Berlin Cert GmbH. Both of
these medical certification and testing companies are officially authorized
centers for the conformity evaluation of medical devices.

“With regulatory approval now received, our company has entered a new
phase. MagForce is transforming itself from a medical R&D company to a commercial
provider of medical technology,” said Dr. Peter Heinrich, CEO of MagForce
Nanotechnologies.

MagForce founder and CSO Dr. Andreas Jordan added, “After research and
development efforts spanning more than 20 years, we now have regulatory approval
in hand. This is a historic moment for us.”

This regulatory approval gives the green light for the company to proceed with
its planned market launch of Nano-Cancer® therapy, which will commence in
the coming weeks.

Nanostart CEO Marco Beckmann underscored that “regulatory approval was
granted not just for glioblastoma but for the treatment of all primary brain
tumors, thus opening enormous market potential for the new therapy. We congratulate
the management team and entire staff at MagForce on this tremendous success.”

The regulatory approval was received based on the results of a clinical study
in patients suffering from recurrent glioblastoma, a particularly aggressive
and deadly form of brain tumor. In these clinical trials, the new therapy was
able to demonstrate its remarkable effectiveness, with median patient survival
time increased from 6.2 months using conventional therapies to 13.4 months using
Nano-Cancer® therapy in combination with radiotherapy. Median patient survival
following diagnosis of the recurrence was thus more than doubled. Furthermore,
compared to existing conventional treatments, the side effects and patient discomfort
associated with the new therapy are minimal.